St. Louis Development Corp.

SBA 504 Loan Program
Geared to healthy existing businesses, these 10 to 20 year fixed rate loans can be used to purchase real estate, construct buildings or acquire major equipment. Maximum $1 million, minimum $120,000.

LDC Revolving Loan Fund (RLF)
The St. Louis Local Development Corporation (SLDC) has the ability to provide direct, low interest, subordinated loans for working capital, machinery and equipment, purchasing land and buildings, renovation and constructing facilities and leasehold improvements. Your business must be located in the City of St. Louis and be licensed to do business in the City. There must be a least one full-time job created/retained for every $10,000 of RLF funds.

Urban Enterprise Loan Program (UEL)
The Urban Enterprise Loan Program is a State funded loan program handled through the Minority Business Council. It focuses on assisting companies expanding in or relocating to the State designated Enterprise Zone. Eligible borrowers must be for profit businesses with current employment of less than 100. Eligible program activities will include fixed asset or working capital needs. Eligible projects must retain existing or create new jobs. The job creation criterion for UEL loans is one job created for every $20,000 in UEL funding. Job creation must occur within 2 years of the completed project.

Industrial Revenue Bonds
IRB’s provide low interest tax exempt financing for qualified projects. Eligible businesses for tax exempt financing include manufacturers, non-profit corporations, multi family housing projects and some pollution control projects. Because of the high fixed cost for bond issued projects they must be greater than $1 million dollars to be cost effective. IRB’s of up to $10 million dollars are possible for private activity projects.

AmerenUE Economic Development Incentive Rate
An economic development incentive rate is available to new and expanding industrial and commercial customers locating in the 24,500 square mile Missouri service area served by AmerenUE. The rate means a 15% reduction in your cost of electrical power during a five-year contract term as an AmerenUE customer.

St. Louis Business Development Fund
A consortium of 22 local banks has created a risk lending pool to provide for-profit business finance for projects too risky for conventional financing. Eligible businesses must be located in St. Louis City or County, must have a positive net worth, must be unable to secure adequate financing from the bank or SBA and must demonstrate a significant public purpose such as job creation, minority business development or export expansion. Funds may be used for working capital, inventory, machinery and equipment and in some cases real estate. From $50,000 to $200,000 in project funding is available.